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One interesting pick is
Ampal-American Israel(AMPL), a private-equity firm (like
Blackstone, for instance) that owns stakes in Israeli companies, including a natural gas company that is building a pipeline between Egypt and Israel, various shopping centers, retail chains and retirement homes, among other entities.

One company that has been permanently on the cheap list that I believe is poised to break out is
Check Point Software Technologies(CHKP - Get Report). The security software company has a forward P/E of just 14 vs. competitors like
Symantec(SYMC - Get Report) at 16 and
VeriSign(VRSN) at 20. The company has $700 million in cash with no debt and has met or exceeded analyst estimates in each of the past four quarters.